Bain Capital LLC has agreed to acquire American Trailer Works, manufacturer of utility and cargo trailers, with plans to merge it with another trailer maker.
Boston-based Bain plans to buy American Trailer, Southland, Texas, from an investor group led by Southlake Equity Group for an undisclosed price. American Trailer has 12 plants and sells its trailers through retailers under PJ Trailers, Carry-On Trailer, RC Trailers and other brands.
American Trailer is slated to merge with Big Tex Trailers, which Bain acquired in December from Miami-based private equity firm H.I.G. Capital LLC in a secondary buyout deal for an undisclosed price. Big Tex, based in Mount Pleasant, Texas, is a manufacturer and retailer of utility trailers and truck beds with eight servicing locations, 40 company-owned retailers and 12 wholesale trailer parts distribution locations.
Blackstone (NYSE: BX) also made a trailer business acquisition in December, buying Load King, a specialty trailers provider in Elk Point, South Dakota, from Manitex International for an undisclosed price. Blackstone made the deal through Utility One Source, a group of heavy equipment sales and rental businesses funded by the private equity giant. Utility One Source is targeting the utility and heavy equipment industries.
In October, Great Western Leasing & Sales Inc., a new and used trailer leasing and rental business, was acquired in leveraged buyout by HeadHaul Capital Partners LLC and Argosy Private Equity. Great Western is based in Irvine, California, with three locations in California, Utah and Texas.
In July, Mobile Mini Inc. acquired Allstate Utility Trailers Inc., trailer rental business in Chattanooga, Tennessee, for an undisclosed price.
Kirkland & Ellis LLP is advising Bain.